Pinewood Reservoir is located west of Carter Lake at an elevation of 6,580 feet. Pinewood is 100 acres of water surrounded by 327 acres of public land. It is popular for trout fishing and camping. It is also a part of the Colorado-Big Thompson Project operated by the Bureau of Reclamation and the Northern Colorado Water Conservancy District. The purpose of this water project is to divert water from the west slope to the east slope for drinking water, irrigation, and hydropower generation. Reclamation is solely responsible for power generation. The agencies jointly manage water levels for irrigation, municipal, and industry use.